“Twitter is included routinely in every day media and all of the people that have a personality on Twitter are now co-dependent on Twitter because they’re part and parcel to its success. They keep promoting it in their own way – so it has an incredible self-promotion mechanism built into it,” says Gurley.

However Gurley also says don’t look for Twitter to go public in 2012 or even 2013 for that matter.

“I don’t expect it goes public in the next 12-20 months,” he says. “First, I think they want to work harder on monetizing the model.”

However, that’s not to say Gurley expects Internet IPOs to slow – he doesn’t.

“We’ve had 5 IPOs recently, that’s not something we’ve seen since the 90’s. I think the window is wide open, again. I think it’s cool again to go public in Silicon Valley. You’re going to see a lot more IPOs.”

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Trader disclosure: On May 17, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Stephen Weiss is long JPM; Stephen Weiss is long AIG; Stephen Weiss is long QCOM; Stephen Weiss is short JCP; Stephen Weiss is short CMI; Stephen Weiss is short AEI; Stephen Weiss is short CHK; Stephen Weiss is short FXA; Stephen Weiss is short JEC; Stephen Weiss is short X; Stephen Weiss is short MT; Brian Kelly is long Nat Gas; Brian Kelly is long FDX; Brian Kelly is long UPS; Brian Kelly is long WFC; Brian Kelly is long USG; Brian Kelly is short EUROSTOXX 50; Brian Kelly is short CAC 40; Brian Kelly is short FTSE 100